Friday, February 6, 2015

DAILY MCX COMMODITY REPORT FOR 06 FEB 2015

Precious Metals
D A I L Y B U Z Z
GOLD
Gold futures rose by 0.53 per cent on Thursday at the domestic markets as investor’s eye renewed worries over Greece's debt woes and ahead of Chinese New Year demand that may be stoked in part by easier monetary policy. Prices rose after data showed that U.S. non-farm private employment rose less-than-expected in January and after China's central bank cut banks' reserve requirement ratios in a surprise decision. Payroll processing firm ADP said non- farm private employment rose by 213,000 in January, below expectations for an increase of 225,000 and slowing from jobs gains of 253,000 in December. At the MCX, Gold futures for February 2015 contract was trading at Rs 27,875 per 10 gram, up by 0.53 per cent after opening at Rs 27,875, against the previous closing price of Rs 27,729. It touched the intra-day high of Rs 27,901 till the trading. (At 11.58 AM).

Base Metals
D A I L Y B U Z Z
COPPER
Copper prices fell by 0.51 per cent on Thursday at the domestic markets after service sector activity in the US grew at a faster rate than expected in January, easing concerns over the economic outlook which raised the demand outlook for the metal. The Institute of Supply Management said its non-manufacturing purchasing managers index increased to 56.7 last month from a reading of 56.2 in December. Analysts had expected the index to inch up to 56.3 in January. At the MCX, copper futures for February 2015 contract were trading at Rs.353.15 per 1 kg, down by 0.51 per cent, after opening at Rs. 353.90 against the previous closing price of Rs. 354.95. It touched the intra-day low of Rs. 352.45 till the trading. (At 11.56 AM).


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